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📘 Short Note: AS 9 – Revenue Recognition
*(CA Intermediate – Accounting)*

🔹 1. Definition of Revenue:
Revenue refers to the gross inflow of cash, receivables, or other consideration arising in the course of ordinary activities.

🔹 2. Applicability:
AS 9 applies to revenue arising from:
- Sale of goods
- Rendering of services
- Use of entity resources by others (royalties, interest, dividends)

🔹 3. Timing of Revenue Recognition:
- Sale of goods: When significant risks and rewards are transferred.
- Rendering of services: Either completed service method or proportionate completion method.
- Interest: On time basis
- Royalties: On accrual basis
- Dividends: When the right to receive is established

🔹 4. Exclusions from AS 9:
- Lease income
- Government grants
- Insurance contracts
- Gains from sale of fixed assets

🔹 5. Key Principle:
Revenue is recognized when it is earned and realizable.

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